[memefrog]

Ah well if Italy is doing it, we all should. They manage their economy famously well.

Do the banks get a "windfall subsidy" when they have bad years?

[belter]

"Emergency Economic Stabilization Act of 2008" - https://en.wikipedia.org/wiki/Emergency_Economic_Stabilizati...

"Congress approves $700 billion Wall Street bailout" - https://www.nytimes.com/2008/10/03/business/worldbusiness/03...

July 20, 2008 -> "...it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation..." - Henry Paulson

November 20, 2008 -> "...We are working through a severe financial crisis caused by many factors, including government inaction and mistaken actions, outdated U.S. and global financial regulatory systems, and by the excessive risk-taking of financial institutions..." - Henry Paulson

[memefrog]

The US got paid back and then some. Not at all the same as an arbitrary ad-hoc tax on success.

Should the Silicon Valley banks that have recently failed also pay a windfall tax? And if not, why tax success? Because it's clearly not a 'windfall' if it only goes to people that made good predictions and not ones that made bad predictions.

[belter]

> "...why tax success? " -> That is how Taxes are supposed to work.

[ffhhttt]

> Do the banks get a "windfall subsidy" when they have bad years?

Is that sarcasm? Cause yeah, they generally do…

[greydius]

Yes, but we call them bailouts.

[memefrog]

The "bailouts" where the government bought shares in the banks and was repaid at a significant markup a few years later?

Is that like "windfall taxes" where the banks buy shares in the government and get repaid later?

[piva00]

> Is that like "windfall taxes" where the banks buy shares in the government and get repaid later?

If it helps society to be more productive in the long-term, yeah (in an indirect way)?

[rje99]

touché

[DarkNova6]

You mean a bank that is "too big to fail" and has to be bailed out?

No, never happened as far as I can remember.

[sph]

Oh won't somebody think of the banks?

Where were you in September 2008?